Andrea's Feed
Jul 31, 2015

U.S. Marines declare initial F-35 squadron ready for combat

WASHINGTON (Reuters) – U.S. Marine Corps Commandant General Joseph Dunford has declared an initial squadron of 10 Lockheed Martin Corp F-35B fighter jets ready for combat, marking a key milestone for the Pentagon’s biggest weapons program, the Pentagon said on Friday.

The decision makes the Marines the first U.S. military service to declare an “initial operational capability” for the stealth supersonic F-35 fighter under the $391 billion arms program that first kicked off in 2001.

Jul 31, 2015

U.S. Marines declare initial F-35 squadron ready for combat: sources

WASHINGTON (Reuters) – U.S. Marine Corps Commandant General Joseph Dunford has declared an initial squadron of 10 Lockheed Martin Corp F-35B fighter jets ready for combat, sources familiar with the decision said on Friday.

The decision, to be announced formally later Friday, is a key milestone for the $391 billion F-35 program after years of cost overruns and schedule delays. It also makes the Marines to first U.S. military service to declare an “initial operational capability” of the F-35.

Jul 31, 2015

U.S. lawmakers question NASA, Air Force on blast probe led by SpaceX

WASHINGTON (Reuters) – Fourteen U.S. lawmakers on Thursday told the Air Force and NASA they had “serious concerns” about the fact that SpaceX is leading an investigation into the June 28 explosion of its Falcon 9 rocket, and whether it would receive enough oversight.

Republican Representatives Mike Coffman from Colorado and Randy Forbes from Virginia led the bipartisan group, which questioned the two government agencies about what the explosion means for future NASA and Air Force launches.

Jul 30, 2015

U.S. Navy chief nominee vows focus on procurement costs

WASHINGTON, July 30 (Reuters) – Admiral John Richardson,
President Barack Obama’s nominee for chief of naval operations,
vowed on Thursday to tackle cost overruns on new Huntington
Ingalls Industries aircraft carriers and to keep a sharp
eye on other key weapons programs.

Richardson, director of the Navy’s Naval Nuclear Propulsion
Program, told the Senate Armed Services Committee that if
confirmed as the Navy’s top uniformed officer, he intends to
continue his practice of being personally involved in
acquisition policy, setting clear standards and then enforcing
them.

Jul 29, 2015

Leidos team wins $4.34 bln contract for U.S. military health records

WASHINGTON, July 29 (Reuters) – The U.S. Defense Department
on Wednesday awarded a team led by Leidos Holdings Inc
a contract valued at up to $4.34 billion to build a new
electronic health record system for 9.6 million current and
retired military service members.

The Defense Healthcare Management System Modernization
contract, included in the Pentagon’s daily digest of major
contract awards, runs for 10 years, including several options to
extend the contract.

Jul 29, 2015

Boeing may move work abroad with Exp-Im future uncertain: chairman

WASHINGTON (Reuters) – Boeing Co (BA.N: Quote, Profile, Research, Stock Buzz) Chairman Jim McNerney said on Wednesday the aircraft maker was actively considering moving “key pieces” of its operations to other countries given the uncertainty about the future of the Export-Import Bank, whose charter expired on June 30.

“We are now forced to think about this differently,” McNerney said in an interview hosted by the Economic Club of Washington, noting that Boeing is looking at countries that offer export credits.

Jul 29, 2015

General Dynamics profit beats estimates; full-year outlook raised

July 29 (Reuters) – General Dynamics Corp, which
makes ships, tanks and business jets, reported
higher-than-expected quarterly results and sharply raised its
full-year profit outlook on Wednesday, sending its shares up as
much as 6 percent to a record high.

The news lifted the aerospace and defense sector.

General Dynamics said a rebound in demand for its Gulfstream
business jets from S&P 500 companies was particularly
encouraging and helped bring about a $1 billion increase in the
backlog of its aerospace division in the second quarter.

Jul 29, 2015

General Dynamics tops second-quarter estimates, raises full-year forecast

By Andrea Shalal

(Reuters) – General Dynamics Corp (GD.N: Quote, Profile, Research, Stock Buzz), a maker of ships, tanks and business jets, reported higher-than-expected quarterly earnings and revenues on Wednesday, and sharply raised its outlook for full-year profit.

Net profit increased 16.4 percent to $752 million for the second quarter from $646 million a year earlier. Earnings per share jumped over 20 percent to $2.27 a share from $1.88 a year earlier, while revenues rose 5.5 percent to $7.88 billion from $7.47 billion.

Jul 29, 2015

General Dynamics tops 2nd-qtr estimates, raises full-year forecast

July 29 (Reuters) – General Dynamics Corp, a maker of
ships, tanks and business jets, reported higher-than-expected
quarterly earnings and revenues on Wednesday, and sharply raised
its outlook for full-year profit.

Net profit increased 16.4 percent to $752 million for the
second quarter from $646 million a year earlier. Earnings per
share jumped over 20 percent to $2.27 a share from $1.88 a year
earlier, while revenues rose 5.5 percent to $7.88 billion from
$7.47 billion.

Jul 29, 2015

Northrop beats second-quarter profit expectations, lifts target for full year

By Andrea Shalal

(Reuters) – Northrop Grumman Corp (NOC.N: Quote, Profile, Research, Stock Buzz), maker of Global Hawk drones, reported higher-than-expected quarterly earnings and raised its guidance for earnings in the full year, despite flat or lower revenues in each of its four business sectors.

Northrop reported net earnings of $531 million, or $2.74 per share in the second quarter, up from $511 million or $2.37 a year earlier. The company said its quarterly results included a net tax benefit of $38 million, or $0.20 per share, for additional research credits.